MONTHLY OVERVIEW: October Updates, Recaps and Department News

Special Webinar Replay

Annuity Pricing 101: Considerations for Index Annuity Product Design

Hear how index annuities are designed and important considerations pertinent to your client, to you and to EquiTrust – from EquiTrust Product-Development Assistant VP, Amy Boggs.  Enjoy the webinar replay at your convenience, click here.

Topics

• Product Features and Guarantees

• Pricing Considerations for Owner, Agent, Company

• How Annuity Products Generate a Profit

• New-Money Rate Setting

• Renewal Rate Setting

New Inherited and Stretch IRA Business

Now Accepted!

Learn the Rules

Inherited/Stretch IRA Rules (ET-INHRSTRCHIRARULES), available in print through the Gateway website, Forms & Supplies tab. To view, Click here.

Inherited/Stretch IRA Brochure

Let you clients know that you can assist with their Inherited and Stretch IRA needs. Inherited/Stretch IRA brochure (ET-INHERSTRCHIRA). Also available in print. To view, Click here.

Webinar Replay – Click Here

This informative webinar will guide you through the rule changes that impact IRA beneficiaries. 

Illustration Software Support Your Sales

EquiTrust illustrations now offer the ability to distinguish between Eligible (Stretch) and Ineligible (10-years) Designated Beneficiaries.Create an illustration at the Sales Tools tab; login is required.

Important Eligibility Information

Applications for new Inherited or Stretch IRA must include a completed Inherited/Stretch IRA Information form (ET-INHIRA).

Available Products

Eligible (Stretch IRA) – All deferred annuity products

Ineligible (Inherited IRA/10-year rule) – All annuities except MarketPower Bonus Index and Confidence Income Annuity

Learn more about EquiTrust Annuities – Click here

Key Points

• If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
• Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
• Stretch IRA is available only to Eligible Designated Beneficiaries.
• Inherited IRA is available to Ineligible Designated Beneficiaries - Withdrawal of funds within 10 years of death now applies to Ineligible Designated Beneficiaries.

Sales-Idea Recap

Sales Ideas! Sent to You in October Issues of
SALES WEEK:

Inherited/Stretch IRA Sales Resources and Webinar Replay

E-App Simplifies Your Business!

Inherited IRA Sales Resources!

10% Premium Bonus Index Annuity – No Vesting

Administration

E-Delivery Coming Soon!

Electronic delivery of contracts will be available in the coming months.  Watch for further details on this convenient enhancement.

Administration

Upload A Doc Available Now

Upload A Doc is a fast and safe means to submit new business and supporting documents to EquiTrust, in addition to E-App, fax and printed documents. Upload A Doc User Guide, click here.

Now is the time to create Delegate Accounts so each of your support staff have personalized, secure access to the Agent Gateway website and are able to use Upload A Doc.

Delegate Accounts general overview, click here 

Delegate Accounts –  Instructional Guide for Delegates, click here

Administration

Trail Commissions – Are You Positioning YOUR BUSINESS for the Long-Term?

Trail options provide annual commission payments as long as the annuity contract has an accumulation value. EquiTrust index annuities offer three commission-payment options: upfront, combination upfront + trail, and trail. Trail commissions are a means to substantially increase your income...and they provide peace of mind, as a guaranteed source of income to supplement your current-year production. A Commission-Election Form is included with each Index AnnuityApplication. If no option is elected or no form submitted – Option A (upfront) will be paid. For more information about commission options, refer to your current Commission Schedule – available at Agents.EquiTrust.com, under Agent Administration in the navigation bar; login is required. Or, view Frequently Asked Questions on Trail Commission Options, click here. See how much you can earn over 20 years, click here. 

Administration

Year-End Processing

EquiTrust will be closed 12/31/2021.

• Good-order RMD requests received 12/31/2021 will be backdated  and processed for Tax Year 2021.
• Premium, applications, inforce and death-claim requests received 12/31/2021 will be processed in Tax Year 2022.